Djed
DJED price
0.994139 USD
1.09%
0.00001629 BTC
Financial indicators DJED
- Rank: 1422
- Market Cap: 3274100 $
- 24 Hour Volume: 107182 $
- Total Supply: 1000000000000
- Circulating Supply: 3293400 (0%)
- Max Supply: 1000000000000
What is Djed?
Djed is the first over-collateralized ADA-backed stablecoin contract on the Cardano network. It operates by keeping a reserve of base coins (ADA), and minting and burning stablecoins and reserve coins. The contract maintains the peg of stablecoins to a target price by buying and selling stablecoins, using the reserve, and charging fees, which accumulate in the reserve. The ultimate beneficiaries of this revenue stream are holders of reserve coins, who boost the reserve with funds while assuming the risk of price fluctuation.
Chart DJED
Technical analysis